POSITION TITLE: Head of Compensation
LOCATION: Southwest, US
THE COMPANY: Confidential
Our client is a multi-billion dollar organization.
SCOPE AND RESPONSIBILITIES:
Reporting to the Vice President Total Rewards, this role will have the responsibility for setting strategy for the design, implementation and delivery of well integrated compensation plans for all of the organization. This highly collaborative executive will have responsibility for the entire company’s various compensation plans which include executive compensation, Field compensation, Distribution Centers, and Corporate. This person will focus on managing the company’s various pay programs, to include performance-based short and long-term incentives, with the objective of ensuring that the company’s pay practices are well developed, consistent, competitive, and effective in driving individual performance.
This executive must be a skilled professional who can understand business strategy and can influence and drive compensation programs at all levels. The Director Compensation will manage a team of five analysts and consultants. The successful candidate will have a breadth of experience and exposure in the HR function and will demonstrate strong strategic planning skills and will have presented at the Board of Directors level and also to the Compensation Committee.
Specific Responsibilities will include:
• Developing, recommending and implementing compensation policies, procedures and processes which result in equitable pay programs that are easily trackable and cost effective.
• Designing and administering the company’s executive compensation programs, including providing appropriate benchmarking and implementing an effective and efficient process to obtain required approvals and for making presentations to the Compensation Committee and Board of Directors. Additionally, this position is responsible for related compliance activities, including Proxy preparation, SEC disclosures, and IRS and other government mandated requirements.
• Developing and presenting clear & concise presentations to senior staff, Comp committee, as well as the Board of Directors.
• Provide leadership for all SSG (Store Support Group) functions for compensation planning.
• Regularly evaluating the company’s performance-based incentive plans including sales incentive programs, and where appropriate, designing and recommending changes that will make them more effective.
• Provide creative and innovative direction for the Field organization to drive sales through expanded pay for performance plans.
• Developing relationships with various consulting and outsourcing vendors while at the same time continually monitoring the cost and service quality levels of current providers.
• Administrating position evaluation system, providing guidance on merit increase practices, promotional philosophy and total compensation approaches to ensure that pay practices remain competitive and internal equity is maintained.
• Providing insight and support to the development of human resources planning and other initiatives that tie a progressive compensation strategy directly to the overall mission of the company.
• Partnering with People and SSG leadership on organizational design that supports strategic objectives and works with Total Rewards and Store Training to ensure consistently executed rewards, training, and development programs.
• Providing analytical and professional advice in the areas of compensation, bonus structures and pay for performance plans.
A minimum of 7 – 10 years of experience in managing compensation programs and issues preferably in a retail or customer facing environment. Must have hands-on experience in compensation plan design and delivery strategies. A strong underpinning in monitoring and measuring executive compensation program effectiveness is expected. This person must possess expert knowledge in executive compensation and have experience presenting to the Board of Directors, the Compensation Committee and understand proxy statements and compliance.
The ideal candidate will:
• Possess strong communications ability, being able to communicate effectively with all levels of management.
• Have excellent presentation skills
• Possess systems thinking skills
• Will have managed through major systems upgrade
• Be able to accurately identify problems, issues and opportunities
• Be able to analyze data to derive conclusions and design a course of action based on facts
• Define clear courses of action for self and team to ensure work objectives are achieved
• Effectively manage concurrent deadlines and multiple priorities
• Effectively deal with and influence senior executives
• Possess strong leadership attributes enabling effective direction, facilitation, communication and cooperation with all levels of the organization
• Strong strategic thinking and planning skills
• Have a broad business perspective with sound business judgment and financial acumen
• Facilitate business culture change
• Have well rounded Human Resource experience and skill
• Have exceptional intellect, energy and integrity
Other attributes would include:
• A proven leader with self-confidence who understands the importance of achieving excellence in managing customer relationships.
• Demonstrated ability to lead an organization through growth and/or transitions without losing momentum or focus on key issues and values.
• Strong communication skills are essential and must also be effective in working with all levels of the organization.
• Must be positive, principled and act as a role model. Must also be able to influence in a positive way and be a team player with a balanced ego.
• Bachelor's degree is required and a graduate degree preferred. This executive will have the long term potential to grow with the Human Resource function.